Gary Neville has bought out Peter Lim’s stake in Salford City, opening the door for a new strategic partner “to take the club forward”.
Lim, who also owns Spanish club Valencia, initially acquired a 50 per cent stake in Salford during a 2014 takeover. However, in 2019, David Beckham —Neville’s former Manchester United team-mate — purchased a 10 per cent share, reducing Lim’s ownership to 40 per cent.
The Singaporean — who has previously partnered with six of the ‘Class of 92’ team-mates across multiple business moves — has now sold the remaining 40 per cent of his stake, ending his 10-year affiliation with the League Two outfit.
“We cannot thank Peter enough for his support, friendship, belief and loyalty to us for over 10 years, not only in Salford City but in other projects that we have worked on together,” a Salford statement read.
Salford City announces that Gary Neville has acquired from Peter Lim his interest in the club.
It marks a successful conclusion to Peter’s 10-year tenure in the club.
“Peter has been integral in helping to create a legacy at Salford that we are now determined to build on.”
— Salford City FC (@SalfordCityFC) August 2, 2024
“Peter has been integral in helping to create a legacy at Salford City that we are now determined to build on.”
Salford added that “Neville, Nicky Butt, Ryan Giggs, Paul Scholes, Phil Neville and Beckham remain committed to the club and continue to have ambitious plans for future growth.”
“Peter’s support has allowed us to become an established League Two club with a unique ownership,” said chief executive Butt.
“We continue to explore options to potentially work with additional new strategic partners to assist us in achieving our ambitions for the club. We are as excited as ever about the new football season and remain focused on strengthening our playing squad and achieving future success on the field alongside the continued development of the football club.”
It was announced in February that Salford were exploring new investment opportunities in the club. Expressions of interest in equity investment have been received.
In October 2022, Neville stepped down from his role as Salford’s CEO, with his former United team-mate Butt named as his successor.
Salford finished 20th in League Two in the 2023-24 season, nine points above the relegation zone.
(Mike Egerton/PA Images via Getty Images)
